U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
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Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
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Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Oil prices edged lower in Asian trading on Tuesday as hopes for a U.S.-brokered peace deal between Russia and Ukraine raised expectations of increased global crude supply. The dip followed Monday’s modest gains but did little to offset the broader downward trend seen in recent weeks, driven largely by fears of oversupply and weakening global demand.
Brent crude futures for January slipped 0.3% to $63.20 per barrel, while West Texas Intermediate (WTI) crude ticked down 0.1% to $58.72 per barrel as of 20:37 ET (01:37 GMT). Despite mounting geopolitical tensions—particularly renewed reports of Israel violating the U.S.-brokered ceasefire in Gaza—market sentiment remained dominated by concerns about excessive supply and subdued economic activity. Even renewed expectations of a Federal Reserve interest rate cut in December failed to lift oil markets, especially with the U.S. dollar holding firm.
Traders reacted to reports that U.S. and Ukrainian officials are collaborating on a comprehensive peace plan aimed at ending the Russia-Ukraine conflict. A revised proposal reportedly emerged from weekend talks in Geneva, although detailed terms have not yet been disclosed. Earlier this month, Washington outlined a 28-point plan to end the war, but it drew criticism for appearing overly favorable to Russia. Still, the possibility of a resolution raised worries that Russia’s oil exports could return more fully to the global market. Any boost in Russian shipments would contribute to already well-supplied inventories and could intensify the risk of a supply glut in the coming year.
Meanwhile, the market is closely watching the impact of newly implemented U.S. sanctions on Russian oil giants Rosneft and Lukoil. The restrictions—among the toughest imposed on Russia’s energy sector—took effect last week and are expected to disrupt existing export routes and complicate purchases for major crude buyers. While the sanctions initially pushed prices higher, their influence has since faded amid persistent concerns over global oversupply.
